,i  #aae? ,,congress  #b;d ,session  ,h4
 ,r4 #eiaf  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,may #bb1 #bjah,mr4   
,re$ introduc$ ! foll[+ bill2 :i* 0     
ref]r$ to ! ,committee on ,ways &       
,means1 & 9 addition to ! ,committee on 
,education & ! ,work=ce1 = a p]iod to be
 subsequ5tly det]m9$ by ! ,speak]1 9 ea*
 case = consid]ation ( su* provisions z 
fall )9 ! jurisdiction ( ! committee    
conc]n$  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to impose a tax on
 in/itutions ( high] education t fail to
 use #be p]c5t ( ! gr[? 9 end[m5t value 
= grants = work+-family /ud5ts ea* ye>1 
& = o!r purposes4  #a4 ,%ort title ,?is 
,act may be cit$ z ! ,r$uc+ ,excessive  
,debt & ,unfair ,co/s ( ,education ,act 
( #bjah or ! ,,r$uce ,act ( #bjah4  #b4 
,excise tax on undi/ribut$ requir$      
pay\ts f end[m5ts ( c]ta9 in/itutions ( 
high] education  7a7 ,9 g5]al ,sub*apt] 
,h ( *apt] #db ( ! ,int]nal ,rev5ue     
,code ( #aihf is am5d$ to read z foll[s3
  ,h ,failure by c]ta9 in/itutions (    

high] education to make c]ta9 pay\ts    
,sec4 #difh4 ,excise tax on undi/ribut$ 
requir$ pay\ts f end[m5ts ( c]ta9       
in/itutions ( high] education4  #difh4  
,excise tax on undi/ribut$ requir$      
pay\ts f end[m5ts ( c]ta9 in/itutions ( 
high] education  7a7 ,initial tax ,!re  
is h]eby impos$1 on an undi/ribut$      
requir$ pay\t ( a qualifi$ in/itution ( 
high] education = a taxable ye>1 on !   
fir/ day ( ! fir/ academic p]iod beg9n+ 
aft] ! close ( su* taxable ye>1 a tax   
equal to #a4d p]c5t ( su* undi/ribut$   
requir$ pay\t z ( su* day4  7b7         
,additional tax ,9 any case 9 :i* an    
initial tax is impos$ "u subsection 7a7 
on an undi/ribut$ requir$ pay\t1 if any 
portion ( su* undi/ribut$ requir$ pay\t 
exi/s--  7#a7 on ! date :i* is #a ye>   
aft] ! date on :i* ! initial tax 0      
impos$1 !re is h]eby impos$ an          
additional tax equal to #cj p]c5t ( su* 
undi/ribut$ requir$ pay\t z ( ! date su*
 tax is impos$1 &  7#b7 on ! date :i* is
 #b ye>s aft] ! date on :i* ! initial   

tax 0 impos$1 !re is h]eby impos$ an    
additional tax equal to #ajj p]c5t ( su*
 undi/ribut$ requir$ pay\t z ( ! date   
su* tax is impos$4  7c7 ,susp5sion (    
d$uctible contributions  7#a7 ,9 g5]al  
,no d$uction %all be all[$ "u any       
provision ( ?is title 7includ+ sections 
#agj1 #ede7;b77#b71 #eef7;b77#b71       
#fdb7;c71 #bjee1 #bajf7;a77#b71 & #bebb7
 ) respect to any contribution to an    
organization dur+ a contribution        
susp5sion p]iod4  7#b7 ,contribution    
susp5sion p]iod ,= purposes ( ?s        
subsection1 ! t]m contribution susp5sion
 p]iod means1 ) respect to any qualifi$ 
in/itution ( high] education1 ! p]iod   
beg9n+ on ! day aft] a return "u section
 #fjcc is fil$ = a taxable ye> = :i* !re
 is an undi/ribut$ requir$ pay\t1 & end+
 on ! fir/ day no portion ( su*         
undi/ribut$ requir$ pay\t exi/s4  7#c7  
,notice ( susp5sion ,if ! d$uctibility (
 contributions is susp5d$ "u ?is        
subsection1 ! ,int]nal ,rev5ue ,s]vice  
%all update ! li/+s ( tax-exempt        

organizations1 & ! ,int]nal ,rev5ue     
,s]vice & su* organization %all publi%  
appropriate notice to ! public ( su*    
susp5sion & ( ! fact t contributions to 
su* organization are n d$uctible dur+ ! 
p]iod ( su* susp5sion4  7d7 ,special    
rule = complete paym5t = work+-,family  
/ud5ts ,) respect to a qualifi$         
in/itution ( high] education = a taxable
 ye>1 if1 dur+ ! "o-ye> p]iod prec$+ !  
date on :i* an initial tax "u subsection
 7a7 w\ld 7b = ?is subsection7 be impos$
 on ! undi/ribut$ requir$ pay\t = su*   
taxable ye>1 ea* degree-seek+           
work+-family /ud5t receives an am\nt (  
grants = su* p]iod t is n less ?an ! co/
 ( att5dance = su* /ud5t at su*         
in/itution dur+ su* p]iod1 no tax %all  
be impos$ "u ?is section on !           
undi/ribut$ requir$ pay\t = su* taxable 
ye>4  7e7 ,def9itions & special rule ,= 
purposes ( ?is section-- 7#a7 ,qualifi$ 
in/itution ( high] education  7,a7 ,9   
g5]al ,! t]m qualifi$ in/itution ( high]
 education means an eligible educational

 in/itution 7z def9$ 9 section          
#be;,a7f77#b77--  7i7 :i* _h at lea/    
#ejj tuition-pay+ /ud5ts dur+ ! prec$+  
taxable ye>1  7ii7 m ?an #ej p]c5t ( !  
tuition-pay+ /ud5ts ( :i* are locat$ 9 !
 ,unit$ ,/ates1  7iii7 ! aggregate fair 
m>ket value ( ! assets ( :i* at ! end ( 
! prec$+ taxable ye> 7o!r ?an ^? assets 
:i* are us$ directly 9 c>ry+ out !      
in/itution's exempt purpose7 is at lea/ 
#ejj1jjj p] /ud5t ( ! in/itution1 &     
7iv7 ( :i* less ?an ! applicable        
p]c5tage ( und]graduates enroll$ dur+ ! 
taxable ye> receive ,f$]al ,pell ,grants
 "u section #dja ( ! ,high] ,education  
,act ( #aife 7#bj ,u4,s4,c4 #ajgj;a74   
7,b7 ,/ud5ts ,= purposes ( subp>agraph  
7,a71 ! numb] ( /ud5ts ( an in/itution  
7includ+ = purposes ( det]m9+ ! numb] ( 
/ud5ts at a p>ticul> location7 %all be  
bas$ on ! daily av]age numb] ( full-"t  
/ud5ts att5d+ su* in/itution 7) "p-"t   
/ud5ts tak5 into acc\nt on a full-"t    
/ud5t equival5t basis74  7,c7           
,applicable p]c5tage ,= purposes (      

subp>agraph 7,a71 ! applicable p]c5tage 
is-- 7i7 9 ! case ( taxable ye>s beg9n+ 
9 #bjah1 #bh p]c5t1  7ii7 9 ! case (    
taxable ye>s beg9n+ 9 #bjai1 #bi p]c5t1 
7iii7 9 ! case ( taxable ye>s beg9n+ 9  
#bjbj1 #cj p]c5t1  7iv7 9 ! case (      
taxable ye>s beg9n+ 9 #bjba1 #ca p]c5t1 
7v7 9 ! case ( taxable ye>s beg9n+ 9    
#bjbb1 #cb p]c5t1 &  7vi7 9 ! case (    
taxable ye>s beg9n+ aft] #bjbb1 #cc     
p]c5t4  7#b7 ,undi/ribut$ requir$ pay\t 
,) respect to a qualifi$ in/itution (   
high] education = a taxable ye>--  7,a7 
,9 g5]al ,! t]m undi/ribut$ requir$     
pay\t means1 z ( a date on :i* a tax is 
impos$ "u subsection 7a7 or 7b71 ! am\nt
 by :i*-- 7i7 ! requir$ pay\t = su*     
taxable ye>1 exce$s  7ii7 ! grants to   
work+-family /ud5ts made by su*         
in/itution be=e su* date out ( su*      
requir$ pay\t4  7,b7 ,de m9imis         
exception ,if an undi/ribut$ requir$    
pay\t ) respect to a qualifi$ in/itution
 ( high] education = a taxable ye> is n 
m ?an #a p]c5t ( ! requir$ pay\t )      

respect to su* in/itution = su* taxable 
ye> 7or1 if less1 #bej1jjj71 subsections
 7a71 7b71 & 7c7 %all n apply ) respect 
to su* undi/ribut$ requir$ pay\t4  7,c7 
,progressive grant requirem5t ,a grant  
out ( a requir$ pay\t = a work+-family  
/ud5t = an academic p]iod %all only     
qualify = ! purposes ( subp>agraph      
7,a77ii7 to ! ext5t t ! am\nt ( grants  
by su* in/itution = su* /ud5t = su*     
academic p]iod is n m ?an ! lea/ am\nt (
 grants giv5 by su* in/itution out ( su*
 requir$ pay\t = su* academic p]iod to  
any degree-seek+ work+-family /ud5t ) a 
l[] h\sehold income ?an su* /ud5t4 ,=   
purposes ( ! prec$+ s5t5ce1 grant am\nts
 %all be det]m9$ on a p] cr$it basis4   
7#c7 ,requir$ pay\t ,! t]m requir$ pay\t
 means1 ) respect to any qualifi$       
in/itution ( high] education = any      
taxable ye>1 an am\nt equal to #be p]c5t
 ( ! av]age net inve/m5t income )       
respect to su* in/itution = su* taxable 
ye> & ! prec$+ #f taxable ye>s4  7#d7   
,net inve/m5t income ,! t]m net inve/m5t

 income means1 ) respect to any qualifi$
 in/itution ( high] education = any     
taxable ye>1 ! excess 7if any7 (--  7,a7
 ! aggregate fair m>ket value ( all     
end[m5ts ( su* in/itution 7det]m9$ z ( !
 close ( ! prec$+ taxable ye>71 m9us any
 contributions to su* end[m5ts receiv$  
dur+ su* prec$+ taxable ye>1 plus any   
sp5d+ f su* end[m5ts dur+ su* prec$+    
taxable ye>1 ov]  7,b7 ! aggregate fair 
m>ket value ( all end[m5ts ( su*        
in/itution 7det]m9$ z ( ! close ( !     
second prec$+ taxable ye>74  7#e7 ,grant
 = a work+-family /ud5t  7,a7 ,9 g5]al  
,! t]m grant = a work+-family /ud5t     
means1 ) respect to a qualifi$          
in/itution ( high] education1 a grant by
 su* in/itution = all or a portion ( !  
co/ ( att5dance to a work+-family /ud5t 
att5d+ su* in/itution4  7,b7            
,work+-family /ud5t ,! t]m work+-family 
/ud5t means1 ) respect to a qualifi$    
in/itution ( high] education = a taxable
 ye>1 an individual--  7i7 :o is enroll$
 7"p-"t or full-"t7 z an und]graduate   

/ud5t 9 su* in/itution dur+ an academic 
p]iod beg9n+ 9 su* taxable ye>2 &  7ii7 
^: h\sehold income = ! taxable ye> does 
n exce$ #fjj p]c5t ( an am\nt equal to !
 pov]ty l9e = a family ( ! size involv$4
  7#f7 ,co/ ( att5dance ,! t]m co/ (    
att5dance1 ) respect to a /ud5t att5d+ a
 qualifi$ in/itution ( high] education =
 an academic p]iod1 has ! mean+ giv5 su*
 t]m 9 section #dgb ( ! ,high]          
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajhgll71 less any grants = co/ (       
att5dance 7z def9$ 9 su* section7       
receiv$ by su* /ud5t f any p]son o!r ?an
 su* in/itution dur+ su* academic p]iod4
  7#g7 ,,fafsa safe h>bor ,= purposes ( 
?is section1 a qualifi$ in/itution (    
high] education may rely on data f ,free
 ,applications = ,f$]al ,/ud5t ,aid     
au?oriz$ "u section #dhc7;a7 ( ! ,high] 
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajib7;a774  7#h7 ,family size2 h\sehold
 income2 pov]ty l9e ,! t]ms family size1
 h\sehold income1 & pov]ty l9e h !      
respective mean+s giv5 su* t]ms 9       

section #cf;,b7d74 ,9 ! case ( any /ud5t
 ) respect to :om a d$uction is all[able
 "u section #aea to ano!r taxpay]1 !    
t]ms family size & h\sehold income %all 
be det]m9$ ) respect to su* o!r taxpay]4
  7#i7 ,assets & ,net ,inve/m5t ,income 
( ,relat$ ,organizations  7,a7 ,9 g5]al 
,= purposes ( p>agraphs 7#a77;,a77iii7 &
 7#d71 assets & net inve/m5t income (   
any relat$ organization ) respect to an 
educational in/itution %all be treat$ z 
assets & net inve/m5t income1           
respectively1 ( ! educational           
in/itution1 except t--  7i7 no su* am\nt
 %all be tak5 into acc\nt ) respect to m
 ?an #a educational in/itution1 &  7ii7 
unless su* organization is controll$ by 
su* in/itution or is describ$ 9 section 
#eji7;a77#c7 ) respect to su* in/itution
 = ! taxable ye>1 assets & net inve/m5t 
income :i* are n int5d$ or available = !
 use or b5efit ( ! educational          
in/itution %all n be tak5 into acc\nt4  
7,b7 ,relat$ organization ,= purposes ( 
?is subsection1 ! t]m relat$            

organization means1 ) respect to an     
educational in/itution1 any organization
 :i*-- 7i7 controls1 or is controll$ by1
 su* in/itution1  7ii7 is controll$ by  
"o or m p]sons :i* also control su*     
in/itution1 or  7iii7 is a support$     
organization 7z def9$ 9 section         
#eji7;f77#c771 or an organization       
describ$ 9 section #eji7;a77#c71 dur+ ! 
taxable ye> ) respect to su* in/itution4
  4  7b7 ,special rules relat+ to       
d$uction ( re/rict$ & unre/rict$ gifts  
,section #agj ( su* ,code is am5d$--    
7#a7 by r$esignat+ subsection 7p7 z     
subsection 7q72 &  7#b7 by ins]t+ aft]  
subsection 7o7 ! foll[+ new subsection3 
7p7 ,special rule = gifts to in/itutions
 ( high] education  7#a7 ,9 g5]al ,9 !  
case ( contributions by an individual to
 a in/itution ( high] education 7z def9$
 9 subsection section #difh7;e77--  7,a7
 if ! use ( any su* am\nts are re/rict$ 
by ! taxpay] to a use o!r ?an s*ol>%ips1
 no d$uction %all be all[$ = s mu* ( !  
aggregate ( su* re/rict$ contributions =

 ! taxable ye> z exce$s #e1jjj1  7,b7 if
 ! use ( su* am\nts are unre/rict$1 !   
am\nt tak5 into acc\nt "u ?is section = 
! taxable ye> %all include an all[ance  
equal to #be p]c5t ( ! aggregate am\nt (
 su* unre/rict$ contributions1 &  7,c7  
if ! use ( any su* am\nts are re/rict$  
by ! taxpay] to s*ol>%ips = work+-family
 /ud5ts 7z def9$ 9 section              
#difh7;e77#e77;,b771 ! am\nt tak5 into  
acc\nt "u ?is section = ! taxable ye>   
%all include an all[ance equal to #ej   
p]c5t ( ! aggregate am\nt ( su* s*ol>%ip
 re/rict$ contributions4  ,any su*      
all[ance %all be tak5 into acc\nt "u ?is
 section 9 ! same mann] z ! contribution
 ) respect to :i* su* all[ance 0        
det]m9$1 except t ! limitation ) respect
 to an individual = any taxable ye> "u  
subsection 7b77#a77;,a7 %all be increas$
 by ! am\nt ( any all[ances all[$ "u    
p>agraphs 7,b7 or 7,c7 = su* taxable    
ye>4  7#b7 ,in/itution ( high] education
 ,= purposes ( ?is subsection1 ! t]m    
educational in/itution means an         

in/itution t is describ$ 9 section #aja 
( ! ,high] ,education ,act ( #aife 7#bj 
,u4,s4,c4 #ajja74  4  7c7 ,requirem5ts =
 tax exempt /atus ( qualifi$ in/itutions
 ( high] education ,section #eja ( !    
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by add+ at ! end ! foll[+ new           
subsection3  7s7 ,additional requirem5ts
 = in/itutions ( high] education  7#a7  
,five-ye> plan ,an in/itution ( high]   
education 7z def9$ 9 section            
#agj7p77#b77 %all n be treat$ z describ$
 9 subsection 7c77#c7 unless !          
in/itution submits to ! ,secret>y 7at   
su* "t & 9 su* mann] z ! ,secret>y %all 
prescribe7 #e-ye> plans :i*--  7,a7 are 
design$ to ensure ! p]c5tage increase 9 
! co/ ( education = any academic ye> at 
su* in/itution 7z comp>$ to ! prec$+    
academic ye>7 w n exce$ ! p]c5tage      
increase 9 ! ,consum] ,price ,index =   
all-urban consum]s publi%$ by !         
,dep>tm5t ( ,labor 7= ! same p]iods71   
7,b7 9 ! case ( any plan aft] ! fir/    
#e-ye> plan submitt$ "u ?is p>agraph1   

describe any failure to a*ieve ! goals (
 ! prec$+ #e-ye> plan & any /eps be+    
tak5 to address su* failures1  7,c7     
id5tify areas 9 :i* co/s are project$ to
 increase ! mo/ & ! measures be+ tak5 to
 address su* co/ increases1 &  7,d7     
conta9 su* o!r in=mation z ! ,secret>y  
det]m9es is necess>y = c>ry+ out !      
purposes ( ?is subsection4  7#b7 ,report
 ,! plan %all include a report :i*      
includes in=mation detail+ sal>ies paid 
by ! in/itution1 any c]tifi$ audit$     
f9ancial /atem5t1 any fees paid by !    
in/itution = inve/m5t managem5t s]vices1
 ! in/itutions's long-t]m sp5d+ plan1 ! 
in/itution's inve/m5ts 7includ+ ! risk  
pr(ile & expect$ rate ( return ( su*    
inve/m5ts71 & ! in/itution's #e l>ge/   
sp5d+ categories1 ! am\nts sp5t )9 ^?   
categories1 & ! #e items )9 ea* category
 on :i* ! mo/ is sp5t4 ,! in/itution    
%all make su* plan publicly available & 
include su* plan on ! in/itution's      
website4  7#c7 ,educational gu>antee ,a 
qualifi$ in/itution ( high] education 7z

 def9$ 9 section #difh7;e77#a77 %all n  
be treat$ z describ$ 9 subsection       
7c77#c7 unless--  7,a7 at lea/ #bj p]c5t
 ( ! /ud5ts ( su* in/itution are        
eligible to receive a ,f$]al ,pell      
,grant "u section #dja ( ! ,high]       
,education ,act ( #aife = ! academic ye>
 beg9n+ 9 ! taxable ye>1 &  7,b7 at lea/
 #ej p]c5t ( ! /ud5ts ( su* in/itution h
 h\sehold income = ! taxable ye> t does 
n exce$ #fjj p]c5t ( an am\nt equal to !
 pov]ty l9e = a family ( ! size involv$ 
7det]m9$ "u rules simil> to ! rules (   
section #difh7;e77#h774  4  7d7 ,cl]ical
 am5dm5t ,! table ( sub*apt]s = *apt]   
#db ( su* ,code is am5d$ by add+ at !   
end ! foll[+ new item3  ,sub*apt] ,h4   
,failure by c]ta9 in/itutions ( high]   
education to make c]ta9 pay\ts  4  7e7  
,effective date ,! am5dm5ts made by ?is 
section %all apply to taxable ye>s      
beg9n+ aft] ! date ( enactm5t ( ?is     
,act4  #c4 ,excise taxes on re/rict$    
donations to high] education in/itutions
  7a7 ,donor advis$ funds ,section #diff

 ( ! ,int]nal ,rev5ue ,code ( #aihf is  
am5d$ by add+ at ! end ! foll[+ new     
subsection3  7e7 ,special rule =        
unre/rict$ donations to qualifi$        
in/itutions ( high] education  7#a7 ,9  
g5]al ,9 ! case ( any re/rict$          
di/ribution f a donor advis$ fund to an 
in/itution ( high] education 7z def9$ 9 
section #agj7p77#b77--  7,a7 su*        
di/ributions %all be treat$ z a taxable 
di/ribution = purposes ( ?is section1 & 
7,b7 subsection 7a7 %all be appli$ by   
sub/itut+ #ajj p]c5t = #bj p]c5t4  7#b7 
,re/rict$ di/ribution ,= purposes ( ?is 
subsection1 ! t]m re/rict$ di/ribution  
means a di/ribution re/rict$ by ! fund  
to a use o!r ?an s*ol>%ips4  4  7b7     
,private f\ndations ,section #dide ( su*
 ,code is am5d$ by add+ at ! end !      
foll[+ new subsection3  7j7 ,special    
rule = unre/rict$ donations to qualifi$ 
in/itutions ( high] education  7#a7 ,9  
g5]al ,9 ! case ( any re/rict$          
di/ribution f a private f\ndation to an 
in/itution ( high] education 7z def9$ 9 

section #agj7p77#b77--  7,a7 su*        
di/ribution %all be treat$ z a taxable  
exp5diture = purposes ( ?is section1 &  
7,b7 subsection 7a77#a7 %all be appli$  
by sub/itut+ #ajj p]c5t = #bj p]c5t4    
7#b7 ,re/rict$ di/ribution ,= purposes (
 ?is subsection1 ! t]m re/rict$         
di/ribution means a di/ribution re/rict$
 by ! f\ndation to a use o!r ?an        
s*ol>%ips4  4  7c7 ,effective date ,!   
am5dm5ts made by ?is section %all apply 
to di/ributions aft] ! date ( ! enactm5t
 ( ?is ,act4  #d4 ,report on net tuition
 = c]ta9 in/itutions ( high] education  
7a7 ,9 g5]al ,subp>t ,b ( "p ,,iii (    
sub*apt] ,a ( *apt] #fa ( ! ,int]nal    
,rev5ue ,code ( #aihf is am5d$ by add+  
at ! end ! foll[+ new section3  #fjej,x4
 ,disclosures requir$ ) respect to net  
tuition  7a7 ,9 g5]al ,ea* in/itution ( 
high] education 7z def9$ 9 section      
#agj7p77#b77 %all = ! taxable ye> make a
 return to ! ,secret>y :i* conta9s--    
7#a7 ! am\nt ( ! excess 7if any71 = ea* 
work+-family /ud5t 7z def9$ 9 su*       

section7 at su* in/itution1 (--  7,a7 ! 
co/ ( att5dance at su* in/itution 7z    
def9$ 9 section #dgb71 ov]  7,b7 !      
grants f su* in/itution receiv$ by su*  
/ud5t1 &  7#b7 ! numb] ( /ud5ts enroll$ 
at su* in/itution on ! fir/ day ( !     
taxable ye>4  7b7 ,=m & mann] ,su*      
return %all be made at su* "t1 & 9 su*  
=m & mann]1 z ! ,secret>y may by        
regulation prescribe4  4  7b7 ,cl]ical  
am5dm5t ,! table ( sections = subp>t ,b 
( "p ,,iii ( sub*apt] ,a ( *apt] #fa (  
su* ,code is am5d$ by add+ at ! end !   
foll[+ new item3  ,sec4 #fjej,x4        
,disclosures requir$ ) respect to net   
tuition4  4  7c7 ,effective date ,!     
am5dm5ts made by ?is section %all apply 
to taxable ye>s beg9n+ aft] ! date ( !  
enactm5t ( ?is ,act4  #e4 ,f$]al ,pell  
,grant ,program fund+ ,section          
#dja7;b77#g77;iv7 ( ! ,high] ,education 
,act ( #aife 7#bj ,u4,s4,c4             
#ajgj;a7b77#g77;iv77-- 7#a7 9 subclause 
7,,xi71 by /rik+ ! p]iod at ! end &     
ins]t+ a comma2 &  7#b7 by ins]t+ at !  

end ! foll[+ flu% left text3 1 :i*1     
beg9n+ ) fiscal ye> #bjai1 = ea* fiscal 
ye> = :i* am\nts made are made available
 pursuant to subclauses 7,,ix7 ?r\gh    
7,,xi71 ! am\nt made available = !      
fiscal ye> %all be increas$ by an am\nt 
equal to ! increase 9 receipts to !     
,treasury dur+ ! prec$+ fiscal ye>      
attributable to ! taxes impos$ by       
section #difh ( ! ,int]nal ,rev5ue ,code
 ( #aihf44  #f4 ,consum] in=mation      
,section #acb7;i77#a7 ( ! ,high]        
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajae;a7i77#a77 is am5d$ by add+ at !   
end ! foll[+3  7,,aa7 ,total numb] (    
employees ( ! in/itution 9 *>ge ( manag+
 or advis+ ! end[m5t or inve/m5ts ( !   
in/itution4  7,,bb7 ,annual sal>y &     
p]=mance-bas$ comp5sation ( ea*         
individual employ$ by ! in/itution t is 
involv$ 9 managem5t or advis+ ! end[m5t4
  7,,cc7 ,! total exp5ses = manag+ !    
end[m5t ( ! in/itution1 disaggregat$--  
7i7 by (fice space & equipm5t1 & any o!r
 exp5ses n describ$ 9 clause 7ii72 &    

7ii7 by outside managem5t & p]=mance    
fees by category4  7,,dd7 ,total        
in/itutional aid provid$ to /ud5ts by ! 
in/itution & ! total am\nt ( su* aid1   
disaggregat$--  7i7 by in/itutional aid 
provid$ us+ end[m5t funds2  7ii7 by     
in/itutional aid provid$ us+ non-end[m5t
 funds2  7iii7 by ! type ( su* aid 7su* 
z m]it1 ne$1 or a?letic72 &  7iv7 by !  
income categories describ$ 9 p>agraph   
7#f74  7,,ee7 ,! numb] ( /ud5ts ^: p>5ts
 & gr&p>5ts h provid$ ! in/itution-- 7i7
 m ?an #ajj1jjj dur+ ! #d-ye> p]iod     
beg9n+ on ! day be=e ! /ud5t's fir/ date
 ( att5dance ?r\gh ! graduation1        
transf]1 or expulsion ( ! /ud5t2 or     
7ii7 m !n #ejj1jjj 9 ! aggregate4       
7,,ff7 ,! numb] ( /ud5ts ^: p>5t or     
gr&p>5t 7biological1 cu/odial1 /ep-p>5t 
etc7 graduat$ f ! in/itution4  4